Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter19: Elasticity
Section19.1: Elasticity: Part 1
Problem 2ST: What does a price elasticity of demand of 0.39 mean?
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![The value elasticity of demand is -2.5
This means that the demand is highly
inelastic
True/False](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2df9947-8a0f-4629-bc26-cb4ec9c358d8%2Faa6d5a57-2cbd-4e59-8305-d633933c4445%2Feraqmt6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The value elasticity of demand is -2.5
This means that the demand is highly
inelastic
True/False
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